I don't understand why people still take Musk's hyperbolic promises at face value.
Sure, Neuralink will start human trials in 6 months. Just in time for FSD, the New York - Washington hyperloop tunnel, the Tesla Semi, the Cybertruck, the TeslaBot, or those million robotaxies we're supposed to see running around.
Strangely, I bought some parts for my car today from an online vendor, that I have used before, they offer to accept bitcoin as payment.
They accept payments in Bitcoin, but those get converted to hard cash by a payments processor. Much in the same way you don't pay in credit cards.
How would this work for central banks, is anyone's guess.
The fact that this is being purported as breaking news, is the same behavior. Pointing out that it's a random paper by a student seems to fit as a counterfactual contextualization.
^^^^ This. Thank you.
Where do you imagine Harvard papers come from?
Harvard's Deparment of Economics research publications.. The paper linked above is self-published research, and not Harvard-sponsored.
That's a major no shit Sherlock for crappy small countries like Russia that are on the verge of collapse due to mismanagement.
Are you sure? Russia's economy shrank by ~5% since the war began.
Bitcoin lost 56% of its value in that exact same period.
I think I think this is a little different. This guy has enough credentials to lend credibility.
The guy is a Harvard PhD student. Which is great for him, don't get me wrong, but presenting this as a "Harvard paper" is disingenuous... to say the least.
Why do they keep shining a spotlight on these clearly deluded people?
And, FFS, who's in charge of
It would make sense and also explain why the price of Bitcoin is eternally propped up at the current levels despite the fact it should have dropped 50% (at least) with FTX folding.
Here's a hint for you: on practically all exchanges, BTC is not denominated in US dollars. It's denominated in Tethers.
Now look up why FTX blew up to begin with.
$1 USD. It doesn't matter what anyone else "perceives" the dollar to be worth; if you repay debt worth $100 with a C-note, then the debt is legally settled.
What? No.
Yes. The value of that dollar in your pocket is precisely that you can settle debt with it - and the lender is obligated to accept it.
Good luck doing that with crypto.
No, the only value associated with currencies or cryptocurrencies is their ability to purchase goods and services.
Which, again, is zero - per your own admission.
Bitcoin doesn't have any more intrinsic value than a check.
The Bitcoin blockchain is something like 405 GB, if i recall correctly. Ethereum, which acts like a central hub for a lot of crypto crap, is well over 1 TB by now.
And that's why exchanges and stuff like Infura and Alchemy exist in the first place. The only way to have a real client is to sync all of that data, and good luck trying to do that on your phone.
You mean, use cryptocurrencies as actual currencies? TL;DR, no, you can't. If you find a site which accepts Bitcoin payments, what you have behind the scenes is a payments processor which converts your crypto to real money, at the spot exchange rate at the time.
The reason is the same why exchanges exist. The only value associated with cryptocurrencies is their hard-currency denomination.
Impossible to understand. How could we ever find out what actually happened? It's a mystery wrapped in a riddle inside an enigma.
You gave your money to a guy running a Ponzi scheme, the scheme collapsed, and now the guy is running away with your money. Because why the hell wouldn't they?
"Here's something to think about: How come you never see a headline like `Psychic Wins Lottery.'" -- Comedian Jay Leno
